[saket77]

The Ministry of Finance has amended section 64VB of the Insurance Act, 1938, and has extended the motor insurance expiring in the period of lockdown till 21st of April, 2020.

The vehicle owners will get continued coverage with no loss of ‘no-claim bonus’ in this period. This comes as a major relief to the concerned.

Apart from motor insurance, people availing services of health insurance will also get same benefits.

Source: https://m.timesofindia.com/business/...w/74942212.cms

[RavenAvi]

The orders:

[anjan_c2007]

Going through the Times of India newsreport of 02.04.2020, its states :-

"coverage and continuity of benefits -- such as coverage of continuity of benefits -- such as coverage of pre-existing conditions from the old policy in case of health or a no-claim bonus in case of motor," said an IRDAI official."

Whereas, the Finance Ministry notification of 01.04.2020 no. F. No.14017/18/2020 - Ins - II states:-

" The policy holders whose motor vehicle third party insurance policies fall due ...... to ensure continuity of the third party insurance cover from the date on which the policy falls due for renewal."

The ToI report quoting IRDAI sources says about "motor insurance no claim bonus", which can be only claimed by valid comprehensive insurance policy holders. But the Finance Ministry notification in question talks only about valid third party insurance policies.

Hence, there could be another separate notification for comprehensive insurance policy holders by the Finance Ministry, if we are to believe in the authenticity of the ToI newsreport.

[AltoLXI]

Trying to renew my car insurance which needs to renewed before 22nd April. I called Hyundai but no one is picking up the call. Tried directly renewing on insurance site but keep getting message "Unable to renew now".

I will wait till day after and try again.

[TusharK]

Time for renewal of 3rd party insurance extended till May 15

The Government of India has extended the time for renewal of third party insurance policies till May 15, 2020. A notification regarding the same has been issued as the countrywide lockdown to contain the Covid-19 pandemic has been extended till May 3, 2020.



According to the notification, health and motor vehicle third party insurance policies, which are due for renewal between March 25 and May 3, 2020, can be renewed on or before May 15, 2020.

Earlier this month, the government had amended section 64VB of the Insurance Act, 1938 and extended motor insurance validity till April 21, 2020.

Source

Link to Team-BHP News